ACV Auctions Inc. (NASDAQ:ACVA) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors boosted its position in ACV Auctions Inc. (NASDAQ:ACVA) by 21.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,216 shares of the company’s stock after purchasing an additional 4,563 shares during the quarter. Captrust Financial Advisors’ holdings in ACV Auctions were worth $533,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of ACV Auctions by 11.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,655,640 shares of the company’s stock worth $175,969,000 after purchasing an additional 897,477 shares during the period. William Blair Investment Management LLC grew its holdings in shares of ACV Auctions by 4.1% during the 2nd quarter. William Blair Investment Management LLC now owns 5,013,642 shares of the company’s stock worth $91,499,000 after purchasing an additional 198,228 shares during the period. Jennison Associates LLC grew its holdings in shares of ACV Auctions by 6.8% during the 3rd quarter. Jennison Associates LLC now owns 4,247,932 shares of the company’s stock worth $86,360,000 after purchasing an additional 271,970 shares during the period. Loomis Sayles & Co. L P grew its holdings in shares of ACV Auctions by 10.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,735,055 shares of the company’s stock worth $55,603,000 after purchasing an additional 258,104 shares during the period. Finally, Spyglass Capital Management LLC grew its holdings in shares of ACV Auctions by 69.1% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,614,245 shares of the company’s stock worth $53,148,000 after purchasing an additional 1,068,356 shares during the period. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Stock Performance

Shares of NASDAQ ACVA opened at $21.65 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $20.02 and its two-hundred day moving average is $18.93. The company has a market cap of $3.63 billion, a P/E ratio of -46.06 and a beta of 1.70. ACV Auctions Inc. has a 12 month low of $12.84 and a 12 month high of $23.46.

Insider Buying and Selling at ACV Auctions

In related news, VP Andrew Peer sold 1,795 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $37,695.00. Following the completion of the sale, the vice president now owns 62,956 shares in the company, valued at approximately $1,322,076. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael Waterman sold 75,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $20.24, for a total value of $1,518,000.00. Following the completion of the sale, the insider now owns 366,710 shares of the company’s stock, valued at $7,422,210.40. This represents a 16.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 364,113 shares of company stock worth $7,368,519 over the last three months. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ACVA shares. Citigroup lifted their price objective on shares of ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. B. Riley lifted their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Raymond James started coverage on shares of ACV Auctions in a report on Friday, September 27th. They issued a “market perform” rating and a $22.00 price objective for the company. JMP Securities lifted their price objective on shares of ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Tuesday, September 17th. Finally, Piper Sandler lifted their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

ACV Auctions Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.